In order to continue enjoying our site, we ask that you confirm your identity as a human. Thank you very much for your cooperation.
In order to continue enjoying our site, we ask that you confirm your identity as a human. Thank you very much for your cooperation. Question 80 / 1 ptsWhat happens to equilibrium price and quantity of MP3 players when theybecome more popular?Correct AnswerWe expect equilibrium price and equilibrium quantity to increase.We expect equilibrium price to increase and equilibrium quantity todecrease.We expect equilibrium price and equilibrium quantity to decrease.You AnsweredWe expect equilibrium price to decrease and equilibrium quantity toincrease.When MP3 players become more popular, the demand for a normal goodincreases. Therefore equilibrium price and quantity both increase. |
What happens to equilibrium price and quantity of mp3 players when they become more popular?
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